Question

Q. 1            Its east to detect ………….. than to ………….                                                                                            1                          a. Frauds, errors           b. mistakes, errors       c. errors and frauds  d. errors and mistakes

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Answer 1

Answer:

d

Explanation:

it is used to detect errors and mistake

Answer 2

Answer:

It's easier to detect errors than fraud.

Explanation:

In the context of auditing, errors are inadvertent mistakes made during the compilation or presentation of financial data. Fraud is defined as making a false claim or entry with the intent to deceive another person, whether intentionally or accidentally. A mix of control tests and processes can help the auditor find errors and fraud. Control tests are those that are carried out to gather audit evidence regarding the layout and operation of the accounting and internal audit systems. Due to the fact that audits are not created to identify fraud or to stop it from happening, auditors hardly ever discover it.

When errors are discovered, accountants must make corrective entries. A corrective entry can be made in one of two ways: by reversing the faulty entry and then recording the transaction correctly in a second journal entry, or by creating a single journal entry that, when combined with the original but incorrect entry, corrects the problem.

To find out more about fraud, check out:

https://brainly.in/question/39111118

To find out more about auditor, check out:

https://brainly.in/question/34852006

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